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and in the commodity area there. bank of america, they had a loss of 60 cents. that was a bit larger than a consensus loss of 52 cents. the bottom line is pretty simple. credit is slowly improving at bank of america and many other banks. that's what the -- what most traders were telling me this morning here. also, wells fargo also reported a profit here. a little bit better than expected but loan loss reserves were reduced as well. trader scott, how are we looking at the nasdaq? >> we can open a few points to the downside. that's what the remarket indicator is showing. take a look at big cap technology stocks. most are showing modest losses in the premarket but we're focused on apple down about 0.5% as there is a report it's talking with microsoft about making bing the default search engine on the iphone replacing google. you have microsoft shares still under pressure this morning. google down as well in the premarket. across the board really oracle, intel, and research in motion are all to the down side. certainly there is a lot of focus on technology stocks today in the wake of the b
fair value and that's maybe 20, 25 points on the dow. >> bank of america's influential research investment committee is putting out a report. wall street is paying a lot of attention to it this morning. it's bullish. we'll have the man behind that exclusively. >> and big news on wall street bonuses. a "wall street journal" survey shows wall street paid up to 18% to the top 38 firms from a year ago. >> the debate gets hotter this morning with new details and new faces weighing in. >> but first, let's find out what's going on with the markets before the bell. we start with, scott, here come the judge, wapner at the big board. >> jp morgan will be very active today obviously. earnings were better than expected but revenues missed. loan losses are increasing. loan loss reserves increasing as well. the street actually looking for loan loss reserves to start coming down a little bit as the environment improves a bit. here is some commentary from the jp morgan cfo. it's interesting. sees $1 billion loss in credit cards for the first and second quarter. says improvement in early stage d
th. that's the picture from europe. what's happening in latin america? let's go to michelle for that. >> guy johnson, we are seeing effects in latin america from the news out of china they are talking about raising the reserve requirements for banks. let's talk about brazil. they have been open two hours already. they are getting very hard, lower by 1.1%. remember china, voracious consumer of commodities and brazil is a big producer of commodities and more and more, brazil trades in tandem for what china is perceived to be doing with commodities. you can look at brazil and the oil pits. as brian schachtman was talking about, that's how brazil will trade. argentina just opened. once again, yet another decline as they have this crisis. the fight between the president and the head of the central bank. the fed here in the u.s. is worried about fed independence. they ain't seen nothing compared to what's going on in argentina. mexico, that is from yesterday. mexico will open in about 25 minutes here and we're going to see how they react. people were disappointed about how much heineken pa
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second. we're going to be hearing from goldman sachs, jp morgan jamey die mon, bank of america's brian moynihan are all on the list. hampton pearson is live on the hill with a copy of what some of them may say. >> well, erin, that hearing will be chaired by former california state treasurer phil angeletis. looking at the testimony of those top banking executives, the goldman ceo saying among other things while goldman was largely immune from the bad real estate portion of the core of the financial crisis goldman has made major changes in risk management policies including reducing exposure to leverage loans and real estate by 80% since 2007 to $17 billion. defending goldman's $2.3 billion profit in 2008, and its compensation for top executives he says that basically the compensation for the top 400 executives mostly partners is actually down 77% and he insists that bonuses are very heavily performance based. at the top of the list of lessons learned he says, quote, a systemic lack of skepticism with respect to credit rating agencies and the failure of the risk monitoring mechanism insi
. and 1300 are secretly checking email on vacation. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access >>> southwest and continental reporting fourth quarter results this morning. inside the numbers we go now with eric marshall portfolio manager with hodges capital management. eric, good morning and thanks for being with us. >> good morning, mark. >> what do you think of these numbers? let's start with continental. >> we were very encouraged. both companies came out and beat expectations. both continental and southwest airlines are stocks that we own in the hodges funds and we were generally encouraged to see their earnings come in better than expected. most of the beat come from benefits from fuel costs and doing a better job of managing expenses. we aren't seeing much improvement as far as the average fare so there is still not pricing power but it looks like traf
email on vacation. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access >>> welcome back to "squawk on the street." i'm jane wells in button willow, california. this is grapes of wrath country. the last 24 hours it's been more like grapes of rafts. this is wheat in the san joaquin valley, america's bread basket where you can grow anything as long as you have water. after more than three years of drought, when it rains it pours across california. cob a very wet year as el nino has returned and that could be good news if we show you the next video from last march when we shot hundreds of thousands of acres that went fallow not only because of the natural drought but a man made drought as farmers depended on state controlled water and water allocations slashed to help save a small fish called the delta smelt. one of the farmers we spoke to back then says he ended up pul
of america ceo brian moynihan making his first official address in the north carolina bankers association conference. mary thompson is in raleigh, north carolina and has an interview you'll see first here. hi, mary. >> we were expecting to hear from mr. moynihan around 1:00 eastern. i spoke to some people at bank of america and they say he'll give economic projections and talk about a couple industry issues that are important to him. right now we want to speak with thad woodard actually the president and ceo of the north carolina bankers association. your eighth annual economic forum, that being mr. moynihan. you've been doing business in this state for over 30 years and of course watched all the trevails and successes at bank of america. what do you see as key for mr. moynihan in the year ahead? >> i think he has to be out and about and today is a great example of what -- how he's motivated. he is here before a large crowd of leading north carolina business people. he's got to do more and more of that to make himself known. everybody that i know has met him, met with him, thinks he's gre
. the sentence there contradicted itself. we'll check it. bank of america meantime, mark, also on the list upgraded to outperform from neutral at credit suisse and 3m cut by jp morgan to neutral from overweight. so three different ones on the list. >> futures right now, slightly negative. we're down 280. fair value is about even. dow futures at 25 under fair value so negative. nasdaq is almost even. another wishy washy open looks like. >> so let's look at the commodities trades since that has been front and center. now, mark, there is a heat wave in the northeast relative to the arctic chill which has dominated the skies and the air and what it means is that it's 30 degrees in new york. that is 20 degrees more than it was just yesterday and you've got crude oil down a little bit about 0.5% and gold is also trading lower today. >> let's hit the markets. we start with brian shactman at the nyse. >> reporter: thank you, mark. an incredible amount of global news. the bank of england leaves rates unchanged. china is raising rates on their short-term bills maybe trying to cool down the economy.
about them, toyota about to stop sales and production of eight models in america. >> ford reaping the benefits. phil lebeau has that story. but we start with washington and a critical hearing. what did he say? >> no. we're going to phil instead. >> hey, the script says start with washington. i should have known. they meant start with phil. good morning, phil. >> good morning, mark and erin. huge story for toyota largely because the company has not come up with a way to solve the problem of sticking accelerator pedestrian al pedals. until it does it will halt steals for eight models, involved in a recall a week and a half ago. 2.3 million vehicles. '09 and 2010 rav 4, corolla, matrix, avalon, certain models of camrys, current highlanders as well as 2007-2010 tundras and also the sequoia on the list. toyota is halting production starting next monday at five plants in north america. the idling production accounts for about 57% of toyota's new car sales. the company is not giving a timeline for how long the production and sales suspension will last. the company says in a written state
, only 3.3 million in north america. 3m boosted their 2010 earnings forecast. procter & gamble up fractionally. higher pricing and volumes for them. lockheed martin doing better than expected, the only down side, the guidance isn't as high as analyst expectation. scott, how's the nasdaq? >> we could open a touch lower. certainly the focus remains on apple the day after the big debut of the ipad. there was a bit of the wild swing there. the focus there on apple. keep an eye today on qualcomm. could have a big impact on chip stocks, down 9% premarket. you're looking at what apple shares are doing, almost at the lows of the morning. qualcomm shares are down 9%. they slashed their full-year revenue outlook as well, at least two firms have cut their price targets. netflix and infocus. let's go to sharon at the nymex. >> traders talking about obama's speech last night, the focus on job creation, the lack of any more details about banking reform, there are looking at perhaps some energy demand coming back. that would be helpful for prices. demand now very weak, the u.s. demand is down ab
see all too often in latin america. back to you. >> we're not going to cry for argentina. all right. alan valdez joins us this morning. >> good morning. >> monday morning. new year. what's going to happen? >> well, you know, we got alcoa this morning, that looks good. we're looking for up five cents versus down 28 cents last year. you got that dollar play going on pushing up the commodities, pushing up oil, pushing gold up. close to a little over $18. right now the last time i looked all 30 dow stocks were up stow looks like a strong opening here. >> it looks like the weak dollar strong stocks thing is back. took a little hiatus for a couple weeks but now it's happening again. >> it looked like the end of the year they were rolling out of position so it did take a little off that. you also got china. those exports were great. up 17%. that also pushed up the commodities. right now do you have the weak dollar. >> so you weighed in with this, new money goes into stocks? >> well, you know, i don't know about new money. we haven't that much new money come into stocks. normally you see it
" running a story, perhaps not a big surprise, but focused on bank of america, of course, owner of merrill lynch now for about year since that deal closed and the fact they may be paying bonuses to merrill employees that are equal to '07 numbers. now, '07 not the best year but certainly not the worst and in fact part of the investigations and so forth that b of a had to endure from congress dealt with that very fact in terms of those payments from 2008 if you recalrecal recall. '06 was the best year for merrill lynch of course sowing the seeds for their own demise but apparently the board of directors didn't see it that way awarding everybody there incredible numbers from stan o'neil right down. as for bank of america, you know, some bonus payouts may be expected to be hitting huge numbers. a b of a spokesman tells the journal, hey, good bonuses because some had a very good year but over all the bonus pool won't be a record. at least we've got that going for us. we're now in the season, of cour course, where many of the big banks are going to be deciding what the compensation will look lik
time. >> cfo said they see it taking hold outside the u.s., especially latin america and asia and saw stabilization in the credit portfolio as well. you're updating me that kraft makes those toblerone things in the refrigerator bar in the hotels where if you touch anything it's $8. that's the only place i have ever seen them. have you ever tasted it? >> no. >> what do they know about candy? >> they're going to know plenty about candy. don't be concerned. they will figure it out. >> hershey, i understand. they have chocolate coming out of the yin yang. >> convenience versus commodities. >> he's here. >> if you were kraft, would you sell your pizza business to buy a candy business? you're kraft. you're cheese. we're talking pizza. does it make sense? you wonder by warren buffett had a problem. >> you make an excellent point. >> i get the phone calls when he says something like that. >> kraft macaroni and cheese. >> i love that. >> have you ever looked at all the stuff on the kraft container they use to preserve that cheese. >> fondue is never cheese and chocolate. it's either cheese fon
america, goldman sachs. there's a look at what we're talking about here, all well off recent highs let's call it after reporting for the most part many of them reasonably good numbers. all right. you know, shading a bit here and there. but again, they have been responding as much many would argue to what is potentially going to happen in washington as to anything else. last week we had president obama embracing some of the proposals of volcker and bringing the idea of getting banks to divest their private equity investments, to divest any capital that they have invested in hedge funds, to cut down substantially on however they're going to end up defining proprietary trading. we also have the prospect of the bank tax, something that barney frank, who runs the house financial services committee, had, well, some things to say about in davos. take a listen. >> the notion that people including complaining about the deficit and object to a fairly small tax is mind boggling. the banks were the recipients of so much explicit and implicit help that for them to complain when we're trying to redu
trader at the ceoe. he trades with citi, jpmorgan, bank of america and goldman sachs. so what do you see for the financials today, andrew? >> the financials are a little lower. they're not down that much. jpmorgan is flat, ge is flat as well. it's interesting to watch the volatility. we saw the vix hit 20. even went under 20. went to about 19, 20. i'm watching the volatility. goldman sachs, they report earnings later this mon on january 22nd. should be interesting to see what the volatility does going into earnings and what the volatility does after earnings. >> outside the financials, which obviously are important just because of their sheer weight in the overall market, what group really sticks out in terms of the likely to be a lot of activity today? >> well, the thing i'm always watching is gold and the dollar. they have an inverse relationship on each other. whenever gold rallies, the market rallies, which means we will keep interest rates low probably the next year than affects financials. basically, when gold goes up, financials go up. when gold goes down, the financials will go d
your thoughts on tim geithner. i must say, if it's any indication of america, what they care about, so many of you have been e-mailing us and voting about tim geithner. many more people did about ben bernanke. tim geithner is more of a lightning rod, no matter which way you sway. vote, please, 30 minutes left before the polls close. st: could switching to geo 15% or more on car insurance?e you host: did the waltons take way too long to say goodnight? mom: g'night john boy. g'night mary ellen. mary ellen: g'night mama. g'night erin. elizabeth: g'night john boy. jim bob: g'night grandpa. elizabeth: g'night ben. jim bob:'night. elizabeth: g'night jim bob. jim bob: g'night everybody, grandpa: g'night everybody. jim bob: g'night daddy. vo: geico. 15 minutes could save you 15% or more. national car rental? that's my choice. because with national, i roll past the counter... and choose any car in the aisle. choosing your own car? now, that's a good call. go national. go like a pro. >>> ford to stand on the automotive sector. the stock is up more than 500% in the pas
standards. the big drama happening in latin america today though is in argentina. two days in a row hit all-time highs but today there is a big crisis because the president of argentina has asked the head of the central bank to step down. she wants him to hand over $6 poip.5 billion of foreign exchange reserves so the company can pay off its debt. he has refused and says he wants congress to do it if anybody. a little crisis there you might say. it's lower but as you can see up 95% in a year driven largely by the price of oil. back to you. >> okey-dokey. first earnings season of 2010 is upon us. there are a few companies out this week, alcoa, which always leads off the parade of both alphabetically and chronologically in earnings season is out on a monday. we have the global head of research with thompson reuters joining us now. ashwan, what is the con veinsus, the outlook for this reporting period? >> the fourth quarter reporting season is going to be fantastic. we're looking for 203% growth for s&p 500 earnings. i know that's a shock and awe number but the fourth quarter of last year was
Search Results 0 to 18 of about 19 (some duplicates have been removed)